Sumitomo Mitsui DS Asset Management Company Ltd Sells 114 Shares of DICK’S Sporting Goods, Inc. (NYSE:DKS)

Sumitomo Mitsui DS Asset Management Company Ltd trimmed its holdings in shares of DICK’S Sporting Goods, Inc. (NYSE:DKS) by 2.4% in the 4th quarter, Holdings Channel reports. The firm owned 4,549 shares of the sporting goods retailer’s stock after selling 114 shares during the quarter. Sumitomo Mitsui DS Asset Management Company Ltd’s holdings in DICK’S Sporting Goods were worth $1,041,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. State Street Corp increased its stake in DICK’S Sporting Goods by 1.2% in the 3rd quarter. State Street Corp now owns 2,259,133 shares of the sporting goods retailer’s stock worth $473,945,000 after buying an additional 27,155 shares during the period. Charles Schwab Investment Management Inc. increased its position in shares of DICK’S Sporting Goods by 3.3% during the third quarter. Charles Schwab Investment Management Inc. now owns 1,788,820 shares of the sporting goods retailer’s stock worth $373,327,000 after acquiring an additional 57,672 shares during the period. Geode Capital Management LLC boosted its holdings in shares of DICK’S Sporting Goods by 1.0% in the third quarter. Geode Capital Management LLC now owns 1,042,782 shares of the sporting goods retailer’s stock valued at $217,169,000 after purchasing an additional 10,640 shares during the period. KBC Group NV boosted its holdings in shares of DICK’S Sporting Goods by 86.8% in the fourth quarter. KBC Group NV now owns 467,764 shares of the sporting goods retailer’s stock valued at $107,043,000 after purchasing an additional 217,390 shares during the period. Finally, Holocene Advisors LP bought a new position in DICK’S Sporting Goods in the third quarter worth approximately $70,562,000. 89.83% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several brokerages have weighed in on DKS. UBS Group upgraded DICK’S Sporting Goods from a “neutral” rating to a “buy” rating and upped their target price for the stock from $225.00 to $260.00 in a report on Wednesday, November 27th. Telsey Advisory Group reiterated an “outperform” rating and set a $260.00 target price on shares of DICK’S Sporting Goods in a report on Tuesday, November 26th. Argus boosted their price target on shares of DICK’S Sporting Goods from $255.00 to $280.00 and gave the company a “buy” rating in a report on Wednesday, January 29th. Morgan Stanley upped their price target on shares of DICK’S Sporting Goods from $245.00 to $255.00 and gave the stock an “overweight” rating in a research report on Tuesday, January 21st. Finally, TD Cowen boosted their price objective on shares of DICK’S Sporting Goods from $270.00 to $294.00 and gave the stock a “buy” rating in a research note on Wednesday, January 8th. Eight research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. According to MarketBeat, DICK’S Sporting Goods has a consensus rating of “Moderate Buy” and an average price target of $248.09.

DICK’S Sporting Goods Stock Performance

Shares of DICK’S Sporting Goods stock opened at $244.13 on Wednesday. The company has a 50 day moving average price of $229.93 and a 200 day moving average price of $217.54. The firm has a market capitalization of $19.89 billion, a P/E ratio of 17.45, a PEG ratio of 2.57 and a beta of 1.57. The company has a quick ratio of 0.56, a current ratio of 1.72 and a debt-to-equity ratio of 0.48. DICK’S Sporting Goods, Inc. has a 52 week low of $160.31 and a 52 week high of $254.60.

DICK’S Sporting Goods (NYSE:DKS) last posted its quarterly earnings results on Tuesday, November 26th. The sporting goods retailer reported $2.75 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.68 by $0.07. DICK’S Sporting Goods had a net margin of 8.65% and a return on equity of 42.00%. The business had revenue of $3.06 billion during the quarter, compared to analysts’ expectations of $3.03 billion. During the same quarter last year, the company posted $2.85 earnings per share. The business’s quarterly revenue was up .5% on a year-over-year basis. Sell-side analysts expect that DICK’S Sporting Goods, Inc. will post 13.89 EPS for the current year.

DICK’S Sporting Goods Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, December 27th. Shareholders of record on Friday, December 13th were paid a dividend of $1.10 per share. The ex-dividend date of this dividend was Friday, December 13th. This represents a $4.40 annualized dividend and a yield of 1.80%. DICK’S Sporting Goods’s payout ratio is presently 31.45%.

Insider Activity

In other news, Director Lawrence J. Schorr sold 7,333 shares of the stock in a transaction on Thursday, January 2nd. The shares were sold at an average price of $231.55, for a total value of $1,697,956.15. Following the sale, the director now owns 50,997 shares in the company, valued at $11,808,355.35. This represents a 12.57 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Chairman Edward W. Stack sold 160,600 shares of the business’s stock in a transaction on Monday, January 6th. The shares were sold at an average price of $229.25, for a total transaction of $36,817,550.00. Following the transaction, the chairman now owns 8,362,128 shares of the company’s stock, valued at $1,917,017,844. This represents a 1.88 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 172,933 shares of company stock valued at $39,655,456. Company insiders own 32.03% of the company’s stock.

DICK’S Sporting Goods Company Profile

Dick’s Sporting Goods, Inc engages in the retailing of an extensive assortment of authentic sports equipment, apparel, footwear, and accessories. It also offers its products both online and through mobile applications. The company was founded by Richard T. Stack in 1948 and is headquartered in Coraopolis, PA.